Raymond James Financial Services Advisors Inc. Takes $231,000 Position in Albany International Corp. (NYSE:AIN)

Raymond James Financial Services Advisors Inc. bought a new position in Albany International Corp. (NYSE:AIN) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 2,352 shares of the textile maker’s stock, valued at approximately $231,000.

Other large investors have also bought and sold shares of the company. Orion Capital Management LLC acquired a new position in Albany International in the third quarter worth $29,000. Adirondack Trust Co. acquired a new position in Albany International during the 3rd quarter worth about $86,000. Advisor Partners II LLC bought a new stake in Albany International during the 3rd quarter worth about $261,000. QRG Capital Management Inc. acquired a new stake in Albany International in the 3rd quarter valued at about $269,000. Finally, Park Avenue Securities LLC bought a new position in shares of Albany International in the third quarter worth about $301,000. 97.37% of the stock is currently owned by institutional investors.

Albany International Trading Up 0.6 %

AIN opened at $88.08 on Wednesday. The firm has a 50 day simple moving average of $91.86 and a 200 day simple moving average of $89.71. Albany International Corp. has a fifty-two week low of $78.20 and a fifty-two week high of $99.41. The company has a market cap of $2.75 billion, a price-to-earnings ratio of 24.81, a price-to-earnings-growth ratio of 2.29 and a beta of 1.26. The company has a debt-to-equity ratio of 0.47, a current ratio of 3.53 and a quick ratio of 2.85.

Albany International (NYSE:AIN) last issued its earnings results on Tuesday, February 27th. The textile maker reported $1.22 EPS for the quarter, beating the consensus estimate of $0.84 by $0.38. Albany International had a net margin of 9.68% and a return on equity of 13.70%. The company had revenue of $323.60 million during the quarter, compared to analysts’ expectations of $298.17 million. During the same quarter in the previous year, the company posted $0.75 EPS. The business’s revenue for the quarter was up 20.4% compared to the same quarter last year. On average, sell-side analysts anticipate that Albany International Corp. will post 3.9 earnings per share for the current year.

Albany International Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, April 5th. Investors of record on Friday, March 15th were paid a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a yield of 1.18%. The ex-dividend date of this dividend was Thursday, March 14th. Albany International’s payout ratio is presently 29.30%.

Analysts Set New Price Targets

AIN has been the topic of several research analyst reports. Bank of America reissued an “underperform” rating and set a $95.00 price target (down from $105.00) on shares of Albany International in a research note on Thursday, March 28th. Truist Financial increased their price objective on Albany International from $105.00 to $121.00 and gave the company a “buy” rating in a research report on Wednesday, January 10th. One investment analyst has rated the stock with a sell rating and four have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $110.50.

Albany International Company Profile

Albany International Corp., together with its subsidiaries, engages in the machine clothing and engineered composites businesses. The company operates in two segments, Machine Clothing (MC) and Albany Engineered Composites (AEC). The MC segment designs, manufactures, and markets paper machine clothing for use in the manufacturing of papers, paperboards, tissues, towels, pulps, nonwovens, building products, tannery, and textiles, as well as fiber cement and several other industrial applications.